UK Export Finance has launched a new page of guidance to help UK exporters and overseas buyers navigate the impact of COVID-19 on global trade.
Finance and insurance for UK exporters
UK Export Finance (UKEF) provides guarantees, loans and insurance on behalf of the government that can protect UK exporters facing delayed payments or transit restrictions.
UKEF can help businesses facing disruption due to coronavirus (COVID-19) by:
- guaranteeing bank loans through their Export Working Capital Scheme, helping ease cash flow constraints
- providing an export insurance policy that can help an exporter recover the costs of fulfilling an order that is terminated by events outside their control
The UKEF insurance policy has been expanded to cover transactions with the EU, Australia, Canada, Iceland, Japan, New Zealand, Norway, Switzerland and the USA. Read more about how they offer export insurance in all major markets in response to coronavirus (COVID-19).
They also have over £4 billion of capacity to support UK firms exporting to China, as well as significant capacity across other markets affected by coronavirus (COVID-19) to help cover these risks.
Finance for overseas buyers
UKEF can also support finance for overseas buyers through our Direct Lending Facility, so they can continue to buy UK goods and services.
The Chancellor significantly increased UKEF’s lending capacity to £8 billion in the Budget.